*This article was updated before the 2023-24 season
In the modern NHL, contract and salary cap management may be more critical than ever. The salary cap is finally starting to recover from the consequences of the COVID-19 pandemic, but teams still need to be careful with every dollar they spend.
Even so, every team in the league has a contract on the books that is questionable, no matter how good their GM is. This article will take a look at each team’s worst contract with two things in mind: first, contracts evolve. In most of these cases, the team would likely not sign the same deal knowing what they know now. So we will attempt to establish why these contracts were signed when they were signed.
Second, and in the same line, these deals tend to become albatrosses because of injury, reduced performance, or aging. So all of these opinions are written with due respect to the players who, for the most part, were once-great NHL players who earned these contracts at the time.
(The bolded text below each player name displays the term remaining on the contract, including the 2021-22 season, as well as the AAV and any no-trade clauses (NTC) or no-movement clauses (NMC) the deals contain.)
Anaheim Ducks: Ryan Strome
(Three years, $5 million)
The Anaheim Ducks made a splash in free agency in 2022, signing Ryan Strome to a five-year, $25 million contract as an unrestricted free agent (UFA). But his first few seasons with Anaheim have been very disappointing. Yes, he added some points, collecting 41 in both of his first two seasons, but he has also been a minus-50 in that time.
Strome had a fantastic 2021-22 season with the New York Rangers, so hopefully, but right now, it’s hard to point at anyone else as having the worst contract on the team. And while some might argue that John Gibson has a worse contract given his play in recent seasons, he’s still starting fifty games a season, and it’s difficult to pin the blame on him when the defense is so poor. it’s too early to cast judgment on the four-year, $6.25 million deal handed out to Alex Killorn in free agency, too — although a quick appraisal certainly makes it questionable. So, for now, Strome’s contract is still the worst.
Arizona Coyotes: Lawson Crouse
(Three years, $4.3 million)
Obviously, with the news surrounding the erstwhile Arizona Coyotes this summer, bad contracts are the last thought on anyone’s mind. But in recent seasons, general manager Bill Armstrong has been making moves and clearing cap space in the desert, hoping to accelerate a rebuild for the recently relocated franchise. In that process, he managed to trade former captain Oliver Ekman-Larsson to the Vancouver Canucks. It was an impressive feat that rid him of one of the more burdensome contracts in the league. Of course, Armstrong has added several bad deals to help the team meet the cap floor, like those of Jakub Voracek, Shea Weber, and Bryan Little. But among players the team plans to utilize next season, the Coyotes don’t have an obvious “bad” contract. But Lawson Crouse’s deal sticks out as one that is at least a little odd.
Crouse is a fine, young player. He’s still just 26 and his game may continue to develop. Plus, he’s had back-to-back-to-back 20-plus goal seasons. But his metrics don’t speak of anything, particularly special, and he’s only ever managed 45 points in a season. Most teams would be happy to have him, but a four-year commitment at a solid cap hit is a lot for a player without a definable “it” factor. Again, Crouse’s contract isn’t terrible, and there will be those who argue that either Keller’s or Nick Schmaltz’s deals are worse. But Crouse’s seems like the odd one out in a team whose account sheets are (finally) fairly good.
Boston Bruins: Charlie Coyle
(Two years, $5.25 million, M-NTC, NMC)
After the run that the Boston Bruins have been on, no one is really complaining about bad contracts, but we have to pick one. Charlie Coyle’s contract is hardly one of the worst in the NHL, but on a team that has very few notable bad contracts, his still stands out a bit. The Massachusetts native was a huge contributor in the team’s run to the Stanley Cup the season he came over from the Minnesota Wild. Unfortunately, it was that recency bias that influenced his contract early in the next season. Coyle is still a fine player and a solid contributor in Boston’s middle six. But a $5.25 million salary cap hit is a big commitment to a player who isn’t a clear difference-maker, and on a team with very strong contract management overall, it’s a deal that stands out.
Buffalo Sabres: Jeff Skinner
(Three years, $9 million, NMC)
Some contracts feel like a stretch the moment they are signed. Some contracts look fatal because of the early returns after they are signed. Jeff Skinner’s contract with the Buffalo Sabres falls into both categories. Skinner scored 40 goals in his first season with Buffalo, and as a pending-Unrestricted Free Agent (UFA), then general manager Jason Botterill felt like he had to keep his star winger. But the eight-year, $72 million deal he signed always seemed like a steep price tag whose career high had been 63 points (which he hit four times).
Skinner had a massive bounceback season in Buffalo in the 2022-23 season, setting a new career high with 82 points in 79 games. His offensive metrics were off the charts, and he had 35 goals as well. It was the best season of his career and arguably justified Botterill’s initial faith in him. But he came crashing back down to earth last season, finishing with just 46 points in 72 games. Skinner has always been inconsistent, and, on a team with few bad contracts that makes his $9 million cap hit stick out like a sore thumb.
Calgary Flames: Jonathan Huberdeau
(Seven years, $10.5 million, NMC)
No one could have predicted Jonathan Huberdeau’s first two seasons with the Calgary Flames would go so badly. Certainly, then general manager Brad Treliving could not have when he inked Huberdeau to the richest contract in franchise history, an eight-year, $84-million monster deal. Treliving proffered the contract before Huberdeau had played a single game in Alberta — shortly after acquiring him in the shocking Matthew Tkachuk trade. Everyone knew it was a huge swing at the time, but Huberdeau was coming off a 115-point season, and the Flames were desperate to keep some quality players around for the long haul.
Unfortunately, Huberdeau suffered one of the most severe non-injury-related regressions in NHL history, seeing his point total more than halved, slashed down to 55. Only 15 of those points were goals. Huberdeau ranked fifth on the Flames in points, and the team missed the playoffs just one season after winning the Pacific Division. It was a disastrous outcome for both Huberdeau and the Flames, full stop. And his second season was even worse, dropping to 52 points and finishing at minus-29. The only hope now is that Huberdeau’s third season is a return to form for the Saint-Jerome, Quebec native.
Carolina Hurricanes: Jesperi Kotkaniemi
(Six years, $4.82 million)
The Carolina Hurricanes have developed a well-earned reputation for managing their salary cap well. But they might have made a mistake with Jesperi Kotkaniemi. The idea was simple enough: lock up a talented two-way forward long-term, keeping his salary cap hit low to buy the best seasons of his career. They locked him up on an eight-year, $38.5 million contract in 2022, after grabbing him via an offer sheet the offseason prior. Unfortunately, Kotkaniemi has not provided much offense, managing just 99 points in 227 games. Though he is responsible in his own end, $4.82 is a lot to pay a defense-first forward. It’s not a nightmare contract, but if he can’t score more, the Hurricanes might live to regret this one.
Chicago Blackhawks: Seth Jones
(Six years, $9.5 million, NMC)
The Chicago Blackhawks’ decision to sell the farm and acquire Seth Jones when they did was a bit vexing. Their choice to immediately give him an eight-year, $76 million contract extension was outright confusing. And now that they are in the middle of what can only be described as a scorched-earth rebuild, where Jones is the only player on the roster with a contract that extends beyond 2025-26, it is undeniable that Jones’ extension was a huge mistake.
It’s not that Jones is truly a bad player. His metrics graded him as a plus defender last season if a bit lacking on the offensive side at even strength. But he is not worth that contract on any team, and certainly not on a team in the position the Blackhawks now find themselves in. Of course, the Blackhawks are now fully entrenched in the Connor Bedard era and likely don’t expect to compete for a few years while he matures. But Jones will still be around well into Bedard’s prime. And by then, this contract could look like a real blight on the team’s books.
Colorado Avalanche: Miles Wood
(Five years, $2.5 million)
The Colorado Avalanche are in a tough spot. They have the blessing of employing several of the league’s top superstars, including Nathan MacKinnon — who was the league’s highest-paid player this season — and Cale Makar. As a result of all those salary cap commitments, it makes sense that they would play around the margins and do some unique things to build a competitive team while keeping the costs low. But even that doesn’t quite explain the six-year, $15 million contract the team gave Miles Wood last offseason. With all due respect to Wood, he’s the kind of player you sign for one or two seasons at a time. He’s a fine addition to your team, but signing him for six seasons doesn’t make sense under any circumstances.
Columbus Blue Jackets: Elvis Merzlikins
(Three years, $5.4 million, M-NTC)
What are the Columbus Blue Jackets? They had an explosive offseason in 2022, signing top free agent Johnny Gaudreau to a massive seven-year, $68 million contract. Then, they wound up with the second-fewest points in the regular season and a nice Connor Bedard sweepstakes consolation prize in Adam Fantilli. Then, there was the complete debacle of the Mike Babcock “era.” Clearly, the Blue Jackets have issues on and off the ice, but when looking for reasons for the team’s performance issues, it’s impossible to ignore the anemic output of goaltender Elvis Merzlikins.
Let’s be clear: virtually everyone is a fan of Merzlikins. His tearful eulogy at the funeral of beloved teammate Matiss Kivlenieks showed the kind of human being he is. But his play on the ice in recent seasons has been disastrous, and it’s not nearly good enough for the 11th-highest-paid goaltender in the league. He improved somewhat in the 2023-24 season but was still a net negative at minus-7.6 goals saved above average (GSAA). There is a lot of time and a lot of money left on his contract. Everyone will hope that he turns it around. The future of the Blue Jackets may depend on it.
Dallas Stars: Tyler Seguin
(Three years, $9.85 million, NMC)
It’s not often that a player is publicly called out by his team’s front office for poor performance, but Dallas Stars captain Jamie Benn and teammate Tyler Seguin have suffered that fate at least twice in their career. In 2018, CEO Jim Lites spoke to The Dallas News and said “what nobody says is what is completely obvious to me: We are getting terrible play from our top two players. If 14 (Benn) and 91 (Seguin) don’t lead we will not be successful.” Then, history repeated itself when owner Tom Gaglardi appeared on the Cam & Strick Podcast in 2022.
“When you sign contracts, you have to earn that,” Gaglardi told Andy Strickland. “The two guys are taking one-quarter of the cap space of the team, and both of them aren’t producing enough… I expect them to step up and get better.” In the following 2022-23 season, Benn answered the bell, returning to form as a star player with 33 goals and 78 points in his second-consecutive 82-game season. Seguin, for his part, has remained fairly mediocre, with 102 points in 144 games. It’s a decent stretch but was only good for 6th (2022-23) and 9th (2023-24) in points amongst Stars players. It’s simply not good enough for a player making so much money, especially for four more years.
Detroit Red Wings: Ben Chiarot
(Two years, $4.75, M-NTC)
Do you still believe in the Yzerplan? There are a few too many bad contracts on the books of the Detroit Red Wings already for a team that has yet to find any success under his leadership. And it’s difficult to choose the worst of the bunch. But Ben Chiarot takes the cake by a hair. His performance has been disastrous, and it’s only two years into his four-year deal. This is another one of those deals that most knew was a bad idea when it was signed. Chiarot was not a significant enough difference-maker for a rebuilding team to make him a big part of their defense. And now, they’re reaping the consequences of impulsive free-agent spending. If there IS a Yzerplan — the nickname given to the rebuilds orchestrated by general manager Steve Yzerman — it needs to materialize, and fast.
Edmonton Oilers: Evander Kane
(Two years, $5.125 million, NMC)
“He might have off-ice issues, but he’ll score goals in bunches playing alongside Connor McDavid.” Such was the logic for bringing Evander Kane to Edmonton. And initially, the gamble paid off tremendously — he scored 22 goals and 39 points in his first half-season with the team and added 13 goals in 15 playoff games. The team quickly signed Kane to a four-year, $20.5 million extension, probably thinking they were getting a bargain on a huge asset because of his prior reputation.
But it has not panned out so far. Kane managed only 41 games in his first season, scoring 16 goals as a minus-4. This season was better, slightly, with 44 points in 77 games, but his metrics have been poor as well. So it’s hard to call the extension a success so far. Given that the Oilers got 50 goals this season from Zach Hyman, whom they are paying just slightly more than Kane ($5.5 million), it’s clear that the initial bargain of signing Kane for cheap scoring was an unnecessary risk that has not paid off.
Florida Panthers: Sergei Bobrovsky
(Two years, $10 million, NMC)
Well, this is a tough one to evaluate. One could argue Sergei Bobrovsky is a key reason the Florida Panthers won the Presidents’ Trophy in 2021-22, and the primary reason they reached the Stanley Cup Final the following season. He was electric, winning 12 of 19 games, more than any other goalie. And up until the Final, he seemed nearly unbeatable until he ran out of steam against the Vegas Golden Knights. He also had a fantastic 2023-24 season.
So why is Bobrovsky on this list? It’s simple: he’s still too expensive for his output. The NHL repeatedly proves that it is almost never a good idea to give an aging goalie a long contract. And the fact that Bobrovsky was ultimately outdueled by relative nobody Adin Hill in that Stanley Cup Final proves how fickle the position can be. Hopefully, Bobrovsky has two decent seasons left in him for the Panthers. But even if he does, it will be hard to argue his contract is worth it.
Los Angeles Kings: Pierre-Luc Dubois
(Seven years, $8.5 million)
The 2023 trade that sent Pierre-Luc Dubois from the Winnipeg Jets to the Los Angeles Kings was franchise-redefining for both teams, but maybe not in the way that many analysts expected. Though Gabe Vilardi and Alex Iafallo were not huge contributors, the Jets finished second in the Central Division and comfortably inside the playoffs. The Kings made the playoffs, but with 11 fewer points, and Dubois, their second-highest-paid forward, finished eighth on the team with 40 points and a minus-9 plus/minus. The NHL has spent years expecting the 2016 third-overall pick to take a big step and evolve into a superstar, and the Kings paid him on that potential. But it simply has not materialized yet. And now, Los Angeles is staring down the barrel of seven more seasons on this contract. They will be hoping for a huge bounceback in 2024-25.
Minnesota Wild: Frédérick Gaudreau
(Four years, $2.1 million, M-NTC)
Let there be no mistake: in many ways, the worst contracts on the Minnesota Wild are still the twin contracts given to Zach Parise and Ryan Suter in July 2012. Though GM Bill Guerin finally took the plunge and bought both players out, those contracts will haunt the team for years to come, especially between 2022-2025, when they carry combined dead cap hits of roughly $12.6 million (2022-23) and $14.6 million (2023-24, 2024-25) that will effectively cripple the team in free agency, the trade market, and contract extension talks.
But, a bought-out contract isn’t officially in the spirit of this article, so for the worst active contract, we turn to Frédérick Gaudreau, who signed a five-year, $10.5 million contract in April 2023. It’s not that Gaudreau has been particularly bad for the Wild — he hasn’t. In fact, he reached a career-high 19-goal mark in 2022-23, shortly before signing the contract. The contract isn’t horrendous; it’s just a bit of a head-scratcher. A five-year commitment to a 30-year-old journeyman really feels out of place — similar to the deal the Avalanche gave to Wood. Guerin is probably trying to solve his cap dilemma by signing a longer-term contract to lower the cap hit; it’s just worth questioning whether Gaudreau was the right player for that commitment. Either way, the commitment was made, and Gaudreau will be a Wild player through the 2028-29 season.
Montreal Canadiens: Josh Anderson
(Three years, $5.5 million, M-NTC)
Unfortunately for them, the Montreal Canadiens have several contenders for this list. But they can bury the massive contract of Carey Price on LTIR for as long as they need to. Some would point to Nick Suzuki, but you still have to bet on his future if you’re a Canadiens fan — and the 2023-24 season was a good start down that path.
The same cannot be said for Josh Anderson, who is entering the fifth season of a seven-year, $38.5 million contract he signed with the Canadiens in 2020. Montreal signed him just days after acquiring him from the Blue Jackets, and they received criticism for giving such a long and expensive contract to a player with only one season of over 30 points in his career. After four seasons, the gamble clearly has not paid off. Anderson has continued to struggle to stay healthy and has managed only 108 points (with a minus-61 plus/minus) in his first three seasons with the team. Now undeniably in a rebuild, Anderson’s contract may still be on the books when Montreal is ready to compete again.
Nashville Predators: Luke Schenn
(Two years, $2.75 million)
Here’s another one that simply does not make a lot of sense. Luke Schenn has been a journeyman in the NHL, playing for five different teams since the 2018-19 season. But the Nashville Predators decided to make him a permanent fixture in their roster, giving him a three-year, $8.25 million contract on signing day in 2023. Given where the Predators were at the time, that was a big surprise. And although they did scrape into the postseason in 2023-24, Schenn was by no means a plus-player. Two more seasons at a $2.75 million cap hit is hardly the end of the world, but it just doesn’t make a lot of sense for the Predators.
New Jersey Devils: Ondřej Palát
(Three Years, $6 million, NMC)
Back in 2022, the New Jersey Devils wanted to make another big splash in free agency after missing out on the postseason for the fourth season in a row. They came up short in the Johnny Gaudreau sweepstakes but managed to grab Stanley Cup veteran Ondřej Palát on a five-year, $30 million contract.
The good news is that the Devils returned to the playoffs, becoming one of the teams to watch of the season and finishing with 112 points, good for second in the Metropolitan Division. the bad news is that Palát was a non-factor, struggling with injuries and managing only 23 points in 49 games. Unfortunately, injuries plagued the 2023-24 Devils, and they once again missed the playoffs. Again, Palát was a ghost, finishing ninth on a team riddled with injuries. He has not lived up to a $6 million cap hit in either of his first two seasons, and the Devils might wish to be rid of the three seasons left on the deal.
New York Islanders: Jean-Gabriel Pageau
(Two years, $5 million, M-NTC)
Jean-Gabriel Pageau has been a fine player in his four-plus seasons with the New York Islanders. He just hasn’t been a $5 million player at any point, and particularly not during the 2023-24 season. He finished with 33 points and as a minus-8, and his metrics weren’t good, either. General manager Lou Lamoriello has been trigger happy in giving out long-term contracts that will certainly become his successor’s nightmare to deal with, like the new seven-year deal given to Pierre Engvall last season. But for now, Pageau’s remains the worst of the bunch, if only by an eyelash.
New York Rangers: Barclay Goodrow
(Three years, $3.64 million, M-NTC)
The New York Rangers’ decision to sign Barclay Goodrow to a six-year, $21.85 million contract was short-sighted asset management at its finest. Goodrow earned a reputation as a playoff performer with the Tampa Bay Lightning on their powerhouse third line. He and then-linemates Yanni Gourde and Blake Coleman all got huge deals that summer. But Goodrow’s makes the least sense because of his team’s circumstances.
Make no mistake: Goodrow is a solid player to have in your lineup. His contract is just far too long. The Rangers don’t have a ton of salary cap space, and while they are still on the rise, they will soon be cash-strapped. And Goodrow will be aging and expensive. If they win a Stanley Cup in the next season or two, no one will care. But if they’re in year four or five of pursuit and Goodrow is blocking them from making important moves, then the Rangers could live to truly regret this deal.
Ottawa Senators: Josh Norris
(Six years, $7.95 million)
It’s very hard to pick a “bad” contract on the Ottawa Senators, but there is clearly a “most concerning” one, and that belongs to Josh Norris. The young center seems to have all the makings of a future star in the NHL, but he is struggling with a persistent shoulder injury that cost him almost all of the 2022-23 season, and a big chunk of the 2023-24 season as well. And it’s not the first injury concern of his career. The Senators signed Norris to an eight-year, $63.6 million contract because they think so highly of his future, but right now, his future is cloudy. If he’s fully healthy in 2024-25, someone else will undoubtedly occupy this spot. But for now, there are big red flags by Norris’s contract, and that’s as close as Ottawa gets to a “worst” contract. Joonas Korpisalo, who signed a huge free agent contract last summer, could easily replace Norris after a healthy season, but for $4 million fewer a season, Norris will hold this spot until he’s healthy.
Philadelphia Flyers: Rasmus Ristolainen
(Three years, $5.1 million)
Rasmus Ristolainen is the archetype of a player that NHL general managers see with completely different eyes than the rest of us. Almost universally panned by statisticians and fans alike, GMs seem to take one look at his 6-foot-4 frame and his physical play style and get glossy-eyed. So even though it was clearly a mistake before the ink was drying, it is no surprise that a team as badly run as the Philadelphia Flyers signed Ristolainen to a five-year, $25.5 million contract extension, which has three seasons remaining entering the 2024-25 season.
Ristolainen’s isn’t the only questionable contract on the Flyers’ roster, and he had a decent season in 2023-24 as the team fought for and ultimately missed out on a playoff spot. But he just is not a good defenseman overall and is not worthy of such a costly contract.
Pittsburgh Penguins: Erik Karlsson
(Three years, $10 million, NMC)
How can the 2022-23 Norris Trophy winner and last offseason’s biggest trade acquisition be the worst contract on his new team? Because despite the recent success, Karlsson has one of the worst contracts in the league. It might be controversial, and yes, he had 101 points in 2022-23. But he’s the highest-paid defenseman in the NHL, and he cannot play effective defense anymore.
Karlsson has had a great career and just collected his third Norris Trophy. He’s a future inductee into the Hockey Hall of Fame without question. But he allowed the fourth-most expected goals against (xGA) and the fifth-most high-danger chances against (HDCA) at 5-on-5 even en route to a Norris Trophy season in 202-23. Despite scoring 101 points, he still managed to be a minus-26, an almost Herculean accomplishment of terrible defending. And the San Jose Sharks still finished 29th in the league despite his best efforts.
Newly installed general manager Kyle Dubas clearly saw something he liked in Karlsson. But in his first season in the Steel City, his offense was cut nearly in half, finishing with just 56 points. That is solid for a defenseman, but not worth $10 million. And if Karlsson isn’t providing paradigm-shifting offense, he certainly isn’t providing the defense to justify that contract.
San Jose Sharks: Marc-Edouard Vlasic
(Two years, $7 million, M-NTC)
For his part, young general manager Mike Grier did the nearly unthinkable in offloading Karlsson without sacrificing major future pieces. But he’s still got a ton of work to do if he wants to unbury the Sharks from the numerous bad contracts of his predecessors. Another of the worst offenders is Marc-Edouard Vlasic. Two years at $7 million is a lot better than the $11.5 million they owed to Karlsson when they traded him, but it’s still a lot for a non-impact player. Vlasic has been a fine and even very good defenseman in his career. But now, he’s well past his prime, and the Sharks have a lot of pain to go through before his contract expires. Still, for a team this deep in a rebuild, a Vlasic buyout might be unnecessary.
Seattle Kraken: Philipp Grubauer
(Three years, $5.9 million, NTC)
Don’t let the fact that the Seattle Kraken made the playoffs in just their second season in the NHL distract you from the fact that Philipp Grubauer has been a horrendously bad goaltender through three seasons with the team. When the Seattle Kraken signed the then Vezina Trophy finalist Grubuaer to a six-year, $35.4 million contract, it seemed like the coup of the offseason. Unfortunately, Grubauer has gone from being one of the best goaltenders in the league to being one of the worst. The Kraken have a fairly strong defense. But Grubauer has managed three straight seasons with a sub-.900 save percentage (SV%) and negative goals saved above-average (GSAA). His 2023-24 campaign was a mild improvement on the seasons prior, but it still is not enough to justify his making $5.9 million. With a top goaltender, the Kraken would be a serious contender. But Grubauer will likely be the anchor that keeps this sea monster below the surface.
St. Louis Blues: Colton Parayko
(Six Years, $6.5 million, NTC)
When the St. Louis Blues signed Colton Parayko to an eight-year, $52-million contract extension after an injury-plagued season, they were gambling that they were buying a discount on maybe the most expensive position in the league. General manager Doug Armstrong saw the wild deals given to Zach Werenski and Seth Jones and must have thought $6.5 million per season was a bargain for someone they thought would be the centerpiece of their defense.
Related: Blues’ Parayko Extension is a Big Gamble
Unfortunately, Parayko has not been the centerpiece. Or, if he is, he isn’t producing enough. The Blues’ identity has transformed. Once built on stout defense, they are now a high-octane offense whose blueline struggles to keep up at times. And Parayko is no longer the shutdown defenseman he once was. He also does not produce offense like the best top blueliners in the league, which makes him insufficient as a true #1 defender. Parayko isn’t a bad player, necessarily, and the 2023-24 season was one of his best in recent memory. But he still isn’t what the Blues need from him. There’s a reason Dom Luszczyszyn of The Athletic quickly ranked his as one of the worst contracts in the league. Whether you agree it is that bad or not; it is certainly one that any honest Blues fan would admit they wish had not been signed.
Tampa Bay Lightning: Mikhail Sergachev
(Seven Years, $8.5 million, NTC)
A team that recently went to three consecutive Stanley Cup Finals is doing something right with their roster building. Therefore, it is hard to pick a truly “bad” contract on the Tampa Bay Lightning, especially after they traded McDonagh to the Predators in 2022. With that said, Mikhail Sergachev’s eight-year extension is a little concerning one season in.
No one is denying that Sergachev is a great young player. But he is inconsistent and hasn’t quite proven that he is going to be a truly elite player. For a team that is usually very careful with contracts and typically gets a pretty steep discount to keep players, the $8.5 million AAV the Lightning gave Sergachev seems to be at the very top of the range for a player with his pedigree. Moreover, he missed a lot of the 2023-24 season with injury, which could be a concern for his longevity. Again, it’s not an awful contract, but when every dollar counts, something closer to $7 million would have been a lot more palatable for this player.
Toronto Maple Leafs: Morgan Rielly
(Six years, $7.5 million, NMC)
Like Sergachev, Rielly is a good defenseman who is simply owed too much for too long for the value he offers. The Maple Leafs’ struggles to go deep into the postseason are well-documented. And the lack of a true top-level defender is one of the primary reasons why the third round has seemed out of reach for them. Rielly is a fantastic playmaker and an offensive threat on the loaded and talented Maple Leafs’ roster. But he simply is not solid enough in his own zone to be a cornerstone defenseman.
During the 2023-24 season, the Maple Leafs had one of their best stretches during a five-game suspension Rielly took for cross-checking Ridly Greig. It’s far too small a sample size to read a lot into, but teams generally don’t perform better in the absence of a franchise blueliner. Rielly is very good. But he’s paid to be irreplaceable, and he isn’t quite at that level.
Vancouver Canucks: Ilya Mikheyev
(Two Years, $4.75 million, M-NTC)
Free agent excess has bitten every GM now and again. But in the case of Ilya Mikheyev, it’s a mixture of greed and bad luck that winds him on this list. The Canucks chose to sign the player as a free agent out of Toronto, giving him a four-year, $19 million contract that seemed steep to just about everyone at the time. But things might have worked out, had Mikheyev not torn his ACL halfway through his first season with the team.
Of course, with Vancouver’s explosive 2023-24 season that saw them finish in third place in the Western Conference and with just their second playoff berth since 2014-15, there is far less scrutiny in the City of Glass than there used to be. And Mikheyev was a valuable and healthy two-way player all season long. But he only added 31 points, and that is still underwhelming for a nearly-$5 million player. Things look a lot better in Vancouver than they did a year ago, in more ways than one, and Mikheyev’s contract is no exception. But it’s still steep for a defense-first forward.
Vegas Golden Knights: Ivan Barbashev
(Four years, $5 million, M-NTC)
Speaking of paying too much for versatile middle-six forwards, Ivan Barbashev became a fan favorite in Vegas with a fantastic performance during the 2023 playoffs — which culminated in his capturing his second Stanley Cup. But for a team that has been ruthless in moving on from players, no matter how beloved, the five-year, $25 million contract extension the Golden Knights gave Barbashev the following offseason was certainly surprising. Barbashev is a versatile player and had a fine 2023-24 season. But for a cap-strapped team like Vegas, every dollar counts. And, frankly, Vegas could find rentals that do what Barbashev does most seasons at the deadline. There aren’t many bad contracts in Vegas, but this is at least one to scratch your head about.
Washington Capitals: Darcy Kuemper
(Three years, $5.25 million, M-NTC)
When you get a chance to sign a free agent goaltender who just won the Stanley Cup, you take it. And that’s what the Washington Capitals did to bring in Darcy Kuemper in 2022. And the first season of the deal looked pretty good. But the wheels fell off in 2023-24, and ultimately, journeyman Charlie Lindgren started more games and pushed the Capitals into the playoffs. Kuemper finished with a 13-14-3 record, a .890 SV% and minus-12.1 GSAA. The Capitals are in a strange spot as a franchise, as they exist primarily to propel Alex Ovechkin to break Wayne Gretzky’s goal record. But they aren’t necessarily a dying franchise that will be forced to rebuild after they reach that milestone. With few bad long-term salary commitments, Kuemper’s stands out as one they’d probably rather have back. But they likely won’t regret it too much.
Winnipeg Jets: Nate Schmidt
(One year, $5.875 million, M-NTC)
Nate Schmidt joined the Winnipeg Jets in a trade from the Canucks. He already had a burdensome contract and was unhappy in Vancouver, but the Jets hoped that a new beginning would reinvigorate Schmidt’s career. Unfortunately for everyone, it didn’t happen that way. Schmidt has been ok at times in Winnipeg, but he has never recovered the form that made him a big part of the early seasons with the Vegas Golden Knights.
Now, Schmidt has found himself the odd man out on a strong Jets team. He makes nearly $6 million, but he’s a healthy scratch with regularity. The Jets inherited this contract, hoping for a turnaround for a player with a solid track record. But now, with just one season left on the deal, they likely find themselves counting the days until this contract expires.
Spending Never Stops
If there is one constant in the NHL, it’s general managers offering contracts that their fans (and often their successors) wish they hadn’t. Every team has done it and no roster is without its blemishes. Some are worse than others, but every team has a bad deal on the books. The important thing to remember is that a bad contract does not necessarily mean a bad player. But we’re curious: which contract would you like to see YOUR team get rid of? And how would you like them to deal with it? Let us know in the comments.
